Business EconomyPosted at: Aug 7 2020 5:27PM

Kolkata, Aug 07 (UNI) Birla Corporation Limited today reported a June quarter EBITDA of Rs 252 crore, which represents a drop of 37% from last year amid severe disruptions in key markets and manufacturing centres due to the Covid-19 pandemic.
The operations of the Company’s plants stood suspended for nearly the entire month of April. Sales during this period were also negligible. Though things started to move in May, it was only in the latter half of the month that operations normalised. With production across most plants gaining steam only in the first week of May, around seven of 13 weeks were available during the quarter. However, local lockdowns and restrictions continued to hobble operations, a company statement issued here said.
Although it took longer than expected to restart operations, all teams mobilised for rapid ramp-up to deliver a high run-rate in the latter part of May and June. This partially compensated for the loss of volumes and earnings in the six weeks of the quarter, although sporadic disruptions in isolated pockets in core markets continued.

Cash profit and net profit for the quarter at Rs 172 crore and Rs 66 crore, respectively, are the result of a turnaround in end May and June, though significantly lower than last year on account of the impact of the lockdown from the end of March.
Revenue for the June quarter (including other income) at Rs 1,241 crore declined 34.7% year-on-year as sales by volume dropped 33.9% to 2.4 million tons (mt).
UNI PL KK

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